New Delhi: The Bharat QR code will soon be introduced as an option of payment on mobile point of sale (PoS) devices, enabling merchants to receive payments via an app without the need of even a card reader.
An mobile PoS is a smartphone, tablet or wireless device which performs the same function as that of an electronic PoS terminal. For using mobile PoS, the merchant has to download a mobile app and attach the device to a card reader to carry out transactions.
Earlier this month, BharatQR code was introduced on standalone point-of-sale (POS) machines, the first-of-its-kind facility by Bijlipay, a digital payment solutions company.
“As of now, only standalone PoS supports this feature. We are working to integrate with mPoS also. In a month’s time mobile PoS will also start supporting it. In case of mobile PoS, the app will have all the features to enable collection of payments via Bharat QR, i.e. the app will generate dynamic QR (quick response) code which can be scanned by the customer using a banking app," said Eniyan Narayanaswamy, chief product officer, Bijlipay.
Customers making payments via dynamic QR codes don’t have to enter the amount on their phones. The code is generated real-time, where one will have the store name and the amount.
The merchant who opts to collect payments via Bharat QR will just have to download the mobile app; hardware to swipe/read card will not be needed.
Bharat QR is a common QR code jointly developed by major card payment companies—National Payments Corporation of India (NPCI) that runs RuPay cards, MasterCard and Visa—under instructions from the Reserve Bank of India.